In the modern world, betting has become a notable trend among the young and the old generations. The most popular betting sports are horse racing, soccer, and rugby. Also, sports like cricket, baseball, basketball, jai alai, boxing, ice hockey, camel racing, and dog racing have a considerable fan base in the betting world. Also, betting is a significant part of the modern-day real money casino. This blog will provide information about what a free bet is about and why bookmakers take advantage of it.
Online Betting
With the birth of the internet in 1983, online betting has grown remarkably. Nowadays, you do not have to go to the betting shop. Instead, you can place a bet from the comforts of your own home, workplace, or even while you are traveling. Using your PC, laptop, tablet, or mobile phone, you can place a bet with just a single click.
Betting Types
There are many different betting types. For the sake of this article, we are now going to find out the most used/popular betting types.
- Win/Moneyline bets: It is the most common type of bet. Simply put, you bet for a team that you think is going to win the game.
- Over/Under bets: This type is a little different. For example, think team A and team B’s combined score set is 176 in a sportsbook. If you feel the combined score is above 176, you have bet over. If you feel like the combined score is below 176 then, you have to bet under. In this kind of bet, analyzing the data is very important. Shown below is a simple example of soccer goal-scoring data from some of the best teams in the world.
| Team | Score over 1.5 goal matches/Total matches | Percentage |
| AEK Athens | 1/1 | 100% |
| Roma | 3/3 | 100% |
| Barcelona | 2/3 | 67% |
| Sunderland | 4/6 | 67% |
This kind of data is precious when you are betting over/under bets.
- Point Spread Betting: In this type, you can bet for the winning margin. For example, the sportsbook suggests team A will win the game by 5 points. If you think team A will win the game by 05 points, or more, you bet for team A. If you think team B will win the game or lose it by 04 points or less, you bet for team B.
A Free Bet
Usually, bookmakers give away these free bets for loyalty reasons and to encourage punters. These free bets are more prevalent in online casinos rather than sports betting. Not all bookmakers give their customers free bets, but it is an excellent advantage to both the customer and the bookmaker when they do. But, this free bet money is only for betting. You will have a hard time if you try to withdraw that money. But, it is not impossible. You may have to bet again and again until you can convert that money into real money. Only then can you withdraw your money. Anyways, it is an excellent opportunity if you are new to the betting world. You can play for free without having to risk any money.
There are four main occasions when bookmakers give away free bets on online betting sites.
- When registering to a betting site, these free bet types are not that common in the online betting world. For a moment, you will register on an online betting site for the first time. Sometimes, the site will give away a $20 free bet to play with. It could come in handy considering that you are very new to the betting world and need more training. With that free bet money, you can always do some testing, and when you are confident enough, you can bet with real money.
- When a user makes the first deposit, it is a more common and popular type of bet. For example, when you deposit your first $50, you will get $20 for free. But remember, you may need to complete a verified deposit to that particular site to get this free bet.
- As a promotional offer, among the three, mentioned free bet methods, this method is the first choice of bookmakers. To enjoy these free bets, you need to place one or two bets depending on the bookmaker’s site. For example, sometimes, if you bet two bets of $20, you’ll get a $10 free bet. It is trendy among regular punters.
- Once a week/month free giveaway bets. This type of free bet is regular and given away as loyalty bonuses. Some bookmakers give these free bets monthly and some weekly basis.
How and Why Bookmakers Take Advantage of Free Bets
If we talk about how free bets can be helpful to a bookmaker, it has many advantages. Here are some of the advantages the bookmakers get from giving away free bets.
- Attract new players. It is a convenient method that bookmakers use to their advantage. Giving new players some registration bonuses can attract even the least experienced players into the betting world. Think you get a free bet of $20 just for registration? If yes, you will bet on that money because it is risk-free, and you will not lose any real money.
- Retain the current punters. If you are a regular member of an online betting site, occasionally, you will enjoy this kind of free bet. The bookmaker gives away free bets, sometimes on a monthly or weekly basis. They give these free bets as a loyalty bonus to their current active players.
- The bookmakers can target the amount or type of the bet. When giving away free bets, bookmakers tend to release them with some conditions. Like the betting amount and which sport to choose. With this, the bookmakers can encourage the punter to bet for targeted sports or casinos.
Conclusion
We hope that now you have a better idea of what a free bet is about and why bookmakers take advantage of it with this article. Free bets can be beneficial to the players and bookmakers. However, it is not necessarily a bad or good thing. Whether you are a bookmaker or a player, it will primarily benefit your journey in the online betting world.